Government coronavirus spending: Where is all the money coming from?

THE ongoing coronavirus crisis has forced the Government to cash out in order to keep businesses, workers and the economy afloat. Where is all the money coming from?

The Government’s response to the coronavirus pandemic has lead to decreasing economic activity in the UK. Prime Minister Boris Johnson announced Britain would essentially go into lockdown for the foreseeable future, urging people to stay home if possible to stop the spread of COVID-19.

Before the impact of the pandemic, the Office for Budget Responsibility forecast borrowing to be £55 billion, or 2.4 percent of national income in the coming financial year.

HOLIDAYS this year have been a bleak subject for Britons hoping to get away from the UK with many facing the battle of claiming refunds. And now, Transport Secretary Grant Shapps has said travel companies should not be "hanging on to money".

The Government’s coronavirus policy measures are expected to cost the Treasury more than £130bn, Britain’s financial watchdog has said, as Ministers were warned not to fall back on austerity to counter intense financial pressures.